Can I file 5500-EZ for 2020 where I employ my son?

[Jakyasar]

Sorry if this was asked before:

I own an S-Corp and own 100%.

My adult son is my employee and participant.

2020 5500-EZ instructions for who can file EZ:

2. Covers only one or more partners (or partners and their spouses) in a business partnership (treating 2% shareholder of an S corporation, as defined in IRC 1372(b), as a partner)

1372(b)2: 

(b)2-percent shareholder defined

For purposes of this section, the term “2-percent shareholder” means any person who owns (or is considered as owning within the meaning of section 318) on any day during the taxable year of the S corporation more than 2 percent of the outstanding stock of such corporation or stock possessing more than 2 percent of the total combined voting power of all stock of such corporation.

So, now I can file an EZ where my son owns my stock by attribution?

Thank you for your comments

[RatherBeGolfing]

Yes. Starting with 2020 Form, 2% shareholder treated as partner for annual filing purposes.

See prior thread for more detail

 

[Jakyasar]

Thank you

[SSRRS]

Hi,

The above was an S CORP. How about a sole proprietor that has a plan and the only participants in the plan are the owner and his son. Should this be an EZ based on the new regs? Thank you  very much.

[Jakyasar]

Exception is for s corp

[SSRRS]

6 hours ago, Jakyasar said:

Exception is for s corp

Thanks Jakyasar.